MoneyGeek’s Take

USAA® Preferred Cash Rewards Visa Signature® Card Review

With no annual fee, the ​​USAA® Preferred Cash Rewards Visa Signature® Card is an ideal option for USAA members looking to get 1.5% unlimited cash back on qualified purchases. Cardholders also enjoy the benefit of not paying any foreign transaction fees.

Advertising & Editorial DisclosureLast Updated: 11/21/2022
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Last Updated: 11/21/2022

The ​​USAA® Preferred Cash Rewards Visa Signature® Card is a good fit for USAA members who want straightforward terms for cash back, rewards and benefits. Note that USAA is only available to eligible veterans, current military members and their families. Depending on your terms, the card can have a high APR, ranging between 12.15% and 26.15%.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Cash Back Rewards
  • Travel Rewards
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

USAA® Preferred Cash Rewards Visa Signature® Card at a Glance

MoneyGeek outlined the ​​USAA® Preferred Cash Rewards Visa Signature®Card benefits and other key details. For example, cardholders don’t pay foreign transaction fees or annual fees with this credit card.


  • USAA® Preferred Cash Rewards Visa Signature® Card

    A good no-annual-fee card with cash back and an intro 0% APR balance transfer offer


    • ExcellentRecommended Credit
    • $0Annual Fee
    • 1.5% Cash BackRewards Rate
    • 15 monthsBalance Transfer Duration

Pros & Cons Explained

When deciding if the ​​USAA® Preferred Cash Rewards Visa Signature® Card suits your needs, it’s wise to understand both its advantages and disadvantages.

Pros

  • Benefits
    Description
  • No annual fees
    There is no annual fee for ​​USAA® Preferred Cash Rewards Visa Signature® Cardholders.
  • No foreign transaction fee
    If you’re abroad, you can use this card without paying any foreign transaction fees. Some other cards charge up to 3% per transaction.
  • Get 1.5% unlimited cash back
    With no limit, you can get 1.5% cash back on qualified purchases. Cash back rewards don’t expire, and there are no category restrictions.
  • 0% Introductory APR for 15 months
    You can get a 0% intro APR for the first 15 months after opening your account.

Cons

  • Drawbacks
    Description
  • Only available to USAA members
    USAA members are eligible individuals with a military background and their families. Otherwise, you can’t get the USAA® Preferred Cash Rewards Visa Signature® Card.
  • Account fees
    There is a 3% fee for balance transfers, cash advances and convenience checks.
  • High interest rates
    Compared to similar credit cards, the USAA® Preferred Cash Rewards Visa Signature® Card has a relatively high interest rate, ranging from 12.15%–26.15%.
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Bonuses & Rewards Explained

The USAA® Preferred Cash Rewards Visa Signature® Card offers 1.5% unlimited cash back on all qualifying purchases. As long as you have an active account, your cash back rewards don’t expire. There are also no annual or foreign transaction fees. Check the step-by-step process to see how you can claim your rewards:

1

Earn cash back

Use your USAA® Preferred Cash Rewards Visa Signature® Card to get 1.5% cash back on qualifying purchases with no cap. There are no category restrictions.

2

Check your account

View how many points you’ve earned on the USAA website or mobile app. It will update within 48 hours.

3

Redeem rewards

USAA offers a variety of redemption options. Decide if you want to use some or all of your cash back and submit your request whenever you’d like.

Other Features Explained

USAA Preferred Cash Rewards Visa Signature cardholders get even more perks with their card, including the following features.

  • Card Feature
    Description
  • Zero liability for unauthorized transactions
    If your card is used by an individual that doesn’t have the authority to do so, you’re not held liable for the expenses.
  • Auto rental coverage
    If you rent a car and use the USAA Preferred Cash Rewards Visa Signature card, you’re covered for theft, physical damage and more. Your name must be listed as the primary renter.
  • Travel and emergency assistance
    Regardless of where you are, you can contact the USAA benefits center, which is available 24/7.
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MONEYGEEK QUICK TIP

Because of the card’s relatively high APR, consider maximizing your 0% intro APR for the first 15 months. You’ll be able to save a bit more before the regular APR kicks in. Of course, once your regular interest rate is activated, it’s best not to carry a balance from month to month.

Understanding the Fine Print

When applying for a credit card, it’s important to thoroughly read the fine print, so you understand the card’s terms for annual fees, APR rates, benefits, features and more.

  • Card Feature
    Amount or Rate
  • APR
    14.90% – 28.90%
  • Annual Fee
    $0
  • Cash Back Rewards
  • Rewards Rate
    1.5% Cash Back
  • Airline Benefits
  • This is an icon

    APR

    After the first 15 months of your account opening, the card charges a relatively high annual percentage rate (APR) of 12.15%–26.15%.

  • Late payment fee

    You might pay up to $35 if you make payments after your bill’s due date.

  • This is an icon

    Transaction fees

    For each balance transfer, you’ll need to pay 3% of its amount. Cash advances also incur a 3% fee unless the money is transferred to a USAA deposit account.

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WHERE TO FIND THIS INFORMATION?

Figure out how this card compares to other rewards cards regarding interest rates, fees and other perks. Check the USAA® Preferred Cash Rewards Visa Signature® Card page on the USAA website to learn more. The Consumer Financial Protection Bureau (CFPB) website also provides key details in its credit card agreement database.

Who Should & Shouldn’t Consider USAA® Preferred Cash Rewards Visa Signature® Card?

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Other Considerations for USAA® Preferred Cash Rewards Visa Signature® Card

Figure out your financial goals and plans so you can determine how to use the USAA® Preferred Cash Rewards Visa Signature® Card. Whether it's your only card or an additional card in your wallet, there are several things to keep in mind.

Things to Consider if This Will Be Your First or Only Credit Card

Depending on your USAA Preferred Cash Rewards Visa Signature card terms, you could pay a 12.15%–26.15% APR, which is relatively high. So, if you don’t fully pay your bill per month, you’ll end up spending more than with some competing cards. If you plan to use this card often, there are other rewards cards that offer lower interest rates.

Things to Consider if This Will Be an Additional Card in Your Wallet

The USAA® Preferred Cash Rewards Visa Signature® Card doesn’t have foreign transaction fees, so it can be a good addition if you want to travel abroad. This card also has no annual fees, which saves you some money.

If you’re looking to do balance transfers or cash advances, we recommend using another card that doesn’t have transaction fees. The USAA Preferred Cash Rewards Visa Signature card charges 3% of the amount for certain transactions.

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WHY TRUST OUR REVIEWS:

MoneyGeek conducts rigorous evaluations when reviewing credit cards every month. Our methodology is a six-step process that includes regular re-ranking, estimates of the average spending for consumer profiles, estimates of each card’s three-year values, standardized scoring for each card and more. We also gather information from credible sources like the Consumer Finance Protection Bureau.

How USAA® Preferred Cash Rewards Visa Signature® Card Compares to Other Cards

Before you apply for a USAA® Preferred Cash Rewards Visa Signature® Card, check how it stacks against other cards in terms of fees, rates and rewards. Ultimately, the best card for you should be based on your financial needs.

Quick Comparison of USAA® Preferred Cash Rewards Visa Signature®Card

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USAA® Preferred Cash Rewards Visa Signature® Card

  • Annual fee: None
  • APR: 12.15%–26.15%
  • Foreign transaction fee: None
  • Cash back rewards rate: Unlimited 1.5% cash back on qualified purchases
  • Best for: USAA members who want simple terms and one rate for cash back
creditCard1

Capital One Quicksilver Cash Rewards Credit Card

  • Annual fee: None
  • APR: 15.24%–25.24%
  • Foreign transaction fee: None
  • Cash back rewards rate: Unlimited 1.5% on every purchase
  • Best for: Individuals who travel often outside the U.S.

Other Helpful Decision-Making Q&As

To help you determine if this is the right card for you, MoneyGeek answered commonly asked questions about the USAA® Preferred Cash Rewards Visa Signature® Card.

Still not sure about this card? Consider these options.

If you’re on the fence about this card and how it will fit in your wallet as a first or additional card, you can try browsing other rewards cards or cash back cards. To help you decide, compare the rates, fees and perks that come with each credit card.

Learn more about credit cards in general

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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